FG announces single-digit interest loan for media organisations

President Bola Tinubu has directed the Federal Ministry of Industry, Trade and Investment, through the Bank of Industry, to provide single-digit interest for financing to media organisations in the country.

This was disclosed by the Minister of Information and National Orientation, Mohammed Idris, during the sectoral press briefings to mark the first anniversary of President Tinubu’s administration.

This was as the Federal Government said it remained dedicated to fostering a supportive environment for the media and information sectors.

The Federal Government, through Idris, had last week announced that there would be no ceremony to mark President Tinubu’s first anniversary in office.

Rather, he said ministers in the president’s cabinet would be featured in sectoral briefings to give an account of their stewardship.

Speaking on Monday, Idris stressed the administration’s commitment to transparency and accountability, which, he said, were central to the Renewed Hope Agenda.

“We are creating an enabling environment for all players and stakeholders in the media and information ecosystem to thrive.

“One highlight here is the recent directive by Mr President to the Federal Ministry of Industry, Trade, and Investment, through the Bank of Industry, to extend its single-digit interest-rate financing to media organisations in the country.

“It is now incumbent upon media practitioners to develop bankable proposals to access this financing facility being offered by the Federal Government, and I hope that you, the media, will take full advantage of this great opportunity,” he said.

The minister urged media professionals to seize the financing opportunity, reinforcing the government’s resolve to rebuild public trust in communication and effectively promote its policies and programmes.

Credit: Punch